Question 1

The marketing strategy section of the marketing plan spells out goals and budgets for each month or quarter so the management can review each period's results and take corrective action as needed.

Accepted Answer

A) True 
 B)False

Question 2

What are hollow corporations?

Accepted Answer

A)   companies that market their products through franchisees
B)   companies that have liabilities exceeding their assets
C)   companies that outsource all production to suppliers
D)   companies that do not have any physical presence and only operate online
E)   companies that are horizontally integrated

Question 3

A marketing audit only benefits a company that is in trouble; companies in good health do not need to conduct them.

Accepted Answer

A) True 
 B)False

Question 4

Your firm has experienced a decline in sales over the last three quarters. You have traced the problems to distribution inefficiencies. Which of the following should you track to ensure that the firm's distribution efficiency is maximized?

Accepted Answer

A)   average sales per point of sale
B)   sales from new products
C)   trial rate
D)   repurchase rate
E)   new customer gains

Question 5

Which of the following terms can be defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"?

Accepted Answer

A)   organizational dynamics
B)   a business mission
C)   an ethical/value statement
D)   customer relationships
E)   corporate culture

Question 6

Describe a marketing plan.

Accepted Answer

A marketing plan is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives. It contains tactical guidelines for the marketing programs and financial allocations over the planning period.

Question 7

Which of the following is True regarding annual-plan control?

Accepted Answer

A)   This control process begins by identifying the causes of serious performance deviations.
B)   The tools used for this purpose are sales analysis, market share analysis, marketing expense-to-sales analysis, and financial analysis.
C)   The marketing controller has the primary responsibility for annual-plan control.
D)   Its purpose is to evaluate and improve the spending efficiency and impact of marketing expenditures.
E)   It measures profitability by product, territory, customer, segment, trade channel, and order size. B

Question 8

Michael Porter draws a firm distinction between operational effectiveness and a strategy. Briefly describe this distinction, and identify when a company can claim that it has a strategy.

Accepted Answer

Competitors can quickly copy the operati...

Question 9

Explain how companies achieve leadership by forming strategic alliances.

Accepted Answer

Companies seek national or global leader...

Question 10

A strategy is a game plan for achieving what the business unit wants to achieve.

Accepted Answer

A) True 
 B)False

Question 11

The purpose of profitability control is to ________.

Accepted Answer

A)   examine whether the planned results are being achieved
B)   examine where the company is making and losing money
C)   evaluate and improve the spending efficiency and impact of marketing expenditures
D)   examine whether the company is pursuing its best opportunities with respect to markets, products, and channels
E)   understand the efficiency of the sales force, advertising, sales promotion, and distribution

Question 12

Which of the following is True regarding a marketing audit?

Accepted Answer

A)   It focuses primarily on a firm's macromarketing environment.
B)   It identifies the most-needed improvements and incorporates them into a corrective-action plan with short- and long-run steps.
C)   It is less effective at locating the real source of a problem than a functional audit.
D)   It analyzes only those marketing activities that have failed to produce adequate results.
E)   It relies solely on company managers for data and opinions.

Question 13

The task of any business is to ________.

Accepted Answer

A)   create customer needs
B)   differentiate in terms of cost of production
C)   deliver customer value at a profit
D)   reduce competition
E)   communicate similar value as provided by competitors

Question 14

Angelo made the decision to outsource the software components of his consulting company so he could focus on the company's ________, which are sources of competitive advantage, make a contribution to perceived customer benefits, have application in a wide variety of markets, and are difficult to imitate.

Accepted Answer

A)   core competencies
B)   infrastructure
C)   market-sensing processes
D)   fulfillment management processes
E)   outbound logistics

Question 15

"Enriching Women's Lives" is a three-word mantra that is used by Mary Kay. This is an example of which of the following characteristics of good mission statements?

Accepted Answer

A)   It is focused on a limited number of goals.
B)   It is short, memorable, and meaningful.
C)   It defines the major competitive spheres in which the company will operate.
D)   It takes a long-term view.
E)   It stresses the company's major policies and values. B

Question 16

Definitions of a firm's mission as well as its marketing and financial objectives are included in the marketing strategy section of the marketing plan.

Accepted Answer

A) True 
 B)False

Question 17

An environmental threat is a challenge posed by an unfavorable trend or development that, in the absence of defensive marketing action, would lead to lower sales or profit.

Accepted Answer

A) True 
 B)False

Question 18

"What will we do if it happens?" is a question that managers typically ask while conducting a scenario analysis.

Accepted Answer

A) True 
 B)False

Question 19

When a customer places an order at BookBox.com, the company processes the customer's payment information, sends the order to the nearest warehouse, and ships the order via FedEx. This is best described as the ________ process.

Accepted Answer

A)   market-sensing
B)   customer acquisition
C)   customer relationship management
D)   fulfillment management
E)   new-offering realization

Question 20

What is the purpose of profitability control, and how do marketers use it?

Accepted Answer

The purpose of profitability control is ...

Exam 2: Developing and Implementing Marketing Strategies and Plans

The marketing strategy section of the marketing plan spells out goals and budgets for each month or quarter so the management can review each period's results and take corrective action as needed.

Correct Answer
verified

What are hollow corporations?

Correct Answer
verified

A marketing audit only benefits a company that is in trouble; companies in good health do not need to conduct them.

Correct Answer
verified

Your firm has experienced a decline in sales over the last three quarters. You have traced the problems to distribution inefficiencies. Which of the following should you track to ensure that the firm's distribution efficiency is maximized?

Correct Answer
verified

Which of the following terms can be defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"?

Correct Answer
verified

Describe a marketing plan.

Which of the following is True regarding annual-plan control?

Correct Answer
verified
B

Michael Porter draws a firm distinction between operational effectiveness and a strategy. Briefly describe this distinction, and identify when a company can claim that it has a strategy.

Correct Answer
verified
Competitors can quickly copy the operati...
View Answer

Explain how companies achieve leadership by forming strategic alliances.

Correct Answer
verified
Companies seek national or global leader...
View Answer

A strategy is a game plan for achieving what the business unit wants to achieve.

Correct Answer
verified

The purpose of profitability control is to ________.

Correct Answer
verified

Which of the following is True regarding a marketing audit?

Correct Answer
verified

The task of any business is to ________.

Correct Answer
verified

Correct Answer
verified

"Enriching Women's Lives" is a three-word mantra that is used by Mary Kay. This is an example of which of the following characteristics of good mission statements?

Correct Answer
verified
B

Definitions of a firm's mission as well as its marketing and financial objectives are included in the marketing strategy section of the marketing plan.

Correct Answer
verified

An environmental threat is a challenge posed by an unfavorable trend or development that, in the absence of defensive marketing action, would lead to lower sales or profit.

Correct Answer
verified

"What will we do if it happens?" is a question that managers typically ask while conducting a scenario analysis.

Correct Answer
verified

When a customer places an order at BookBox.com, the company processes the customer's payment information, sends the order to the nearest warehouse, and ships the order via FedEx. This is best described as the ________ process.

Correct Answer
verified

What is the purpose of profitability control, and how do marketers use it?

Correct Answer
verified
The purpose of profitability control is ...
View Answer

Exam 2: Developing and Implementing Marketing Strategies and Plans

The marketing strategy section of the marketing plan spells out goals and budgets for each month or quarter so the management can review each period's results and take corrective action as needed.

Correct AnswerverifiedShow Answer

What are hollow corporations?

Correct AnswerverifiedShow Answer

A marketing audit only benefits a company that is in trouble; companies in good health do not need to conduct them.

Correct AnswerverifiedShow Answer

Your firm has experienced a decline in sales over the last three quarters. You have traced the problems to distribution inefficiencies. Which of the following should you track to ensure that the firm's distribution efficiency is maximized?

Correct AnswerverifiedShow Answer

Which of the following terms can be defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"?

Correct AnswerverifiedShow Answer

Describe a marketing plan.

Which of the following is True regarding annual-plan control?

Correct AnswerverifiedB

Michael Porter draws a firm distinction between operational effectiveness and a strategy. Briefly describe this distinction, and identify when a company can claim that it has a strategy.

Correct AnswerverifiedCompetitors can quickly copy the operati...View AnswerShow Answer

Explain how companies achieve leadership by forming strategic alliances.

Correct AnswerverifiedCompanies seek national or global leader...View AnswerShow Answer

A strategy is a game plan for achieving what the business unit wants to achieve.

Correct AnswerverifiedShow Answer

The purpose of profitability control is to ________.

Correct AnswerverifiedShow Answer

Which of the following is True regarding a marketing audit?

Correct AnswerverifiedShow Answer

The task of any business is to ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

"Enriching Women's Lives" is a three-word mantra that is used by Mary Kay. This is an example of which of the following characteristics of good mission statements?

Correct AnswerverifiedB

Definitions of a firm's mission as well as its marketing and financial objectives are included in the marketing strategy section of the marketing plan.

Correct AnswerverifiedShow Answer

An environmental threat is a challenge posed by an unfavorable trend or development that, in the absence of defensive marketing action, would lead to lower sales or profit.

Correct AnswerverifiedShow Answer

"What will we do if it happens?" is a question that managers typically ask while conducting a scenario analysis.

Correct AnswerverifiedShow Answer

When a customer places an order at BookBox.com, the company processes the customer's payment information, sends the order to the nearest warehouse, and ships the order via FedEx. This is best described as the ________ process.

Correct AnswerverifiedShow Answer

What is the purpose of profitability control, and how do marketers use it?

Correct AnswerverifiedThe purpose of profitability control is ...View AnswerShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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B

Correct Answer
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Competitors can quickly copy the operati...
View Answer

Correct Answer
verified
Companies seek national or global leader...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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B

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
The purpose of profitability control is ...
View Answer